Lithia Motors and Shift are getting into big data. The dealership group and e-commerce retailer said Wednesday they have started a national data-sharing partnership, the latest “milestone” in their work together that began in 2018. They are collaborating to mine lifecycle data sets from U.S. auto transactions. The thinking is, leveraging Lithia’s transactional data with […] [Read More]

A giveaway of a new 2018 Tesla Model 3 AWD was one of the highlights of an 18th-anniversary celebration and sale on March 13 for Dealers Auto Auction of Idaho. In other auction news, Copart added 44 acres to its Chicago South facility, located at 89 E. Sauk Trail, Chicago Heights, Ill. As a result […] [Read More]

Auto dealer software company DealerSocket notes that it uses a “customer-centric approach” to build enhancements to its software. On Aug. 21 to 23 in Anaheim, Calif., the company will hold its annual User Summit with that same theme in mind. “We have designed the DealerSocket User Summit with the same customer-centric approach we use to […] [Read More]

Lynnway Auto Auction and its president James Lamb have each been indicted by a Massachusetts grand jury on five counts of manslaughter, stemming from a fatal 2017 crash at the Billerica, Mass., auto auction. That’s according to a news release from the office of Middlesex District Attorney Marian Ryan, which said the Middlesex Grand Jury […] [Read More]

Auto refinance startup MotoRefi announced $4.7 million in seed funding on Tuesday, with funding led by seed-led venture capital firm Accomplice. QED Investors and Motley Fool Ventures also participated in the funding. MotoRefi is a digital platform designed to connect consumers with lenders, credit unions and banks to help them save on auto financing. The […] [Read More]

Perhaps for about the same amount as the fee you might have incurred using the ride-sharing service during your most recent business trip, you, too, can secure a public share offered by Lyft. In hopes of generating more than $2 billion, Lyft on Thursday announced the pricing of its initial public offering of its Class […] [Read More]

Two more service providers are joining forces to help finance companies navigate the complicated protocols associated with upcoming changes implemented by the Financial Accounting Standards Board (FASB). Equifax and Wolters Kluwer’s Finance, Risk & Reporting (FRR) business are teaming up to provide an end-to-end current expected credit losses (CECL) solution. The companies are combining their respective CECL […] [Read More]

BillingTree created a new executive position and appointed a new chief operating officer this week. Taking on the role is Terri Harwood. In this newly created position, the company highlighted Harwood will lead BillingTree operations during a period of rapid growth. Her experience and extensive expertise complement the company’s continued success in the target verticals […] [Read More]

To give dealers and finance companies insight going into close the first quarter, Nick connected with a pair of experts from J.D. Power for this Auto Remarketing Podcast episode. Thomas King, the senior vice president of J.D. Power’s data and analytics division, dissected the used-vehicle market, while Doug Betts, senior vice president and general manager […] [Read More]

Spencer Scott has joined automotive marketplace CarGurus as senior vice president of advertising and digital marketing solutions. Scott will oversee the company’s global advertising business and will also lead global strategy efforts for the company’s digital marketing products for dealerships. Scott previously led Publisher’s Clearing House’s revenue and media business, and before that he was […] [Read More]